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BCH, BSV, TRX Price Prediction - Have Bears Seized Control Again?

Price Predictions
Mon, 03/23/2020 - 15:42
Denys Serhiichuk
Have Bitcoin Cash (BCH), Bitcoin SV (BSV), and TRON (TRX) formed any reversal patterns?
Cover image via www.tradingview.com

For the cryptocurrency market, the new week has started with a comeback. Almost all the top 10 coins are in the green. The only exception is Tezos (XTZ) that remains under bearish pressure.

Top 10 coins by Coinstats

The important data for the following coins: Bitcoin Cash (BTC), Bitcoin SV (BSV), and Tron (TRX).

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin Cash

BCH

$3 891 749 874

$212,13

$4 196 329 642

1,45%

Bitcoin SV

BSV

$2 993 602 997

$163,20

$3 191 873 074

3,88%

TRON

TRX

$728 948 973

$0,010932

$1 095 449 472

1,52%

BCH/USD 

After a week of stagnation, Bitcoin Cash (BCH) is about to show short-term growth. The price of BTC's fork has risen by 1.45 percent over the last day.

BCH/USD chart by TradingView

On the four-hour chart, Bitcoin Cash (BCH) is forming a reversal pattern. The price rise is also accompanied by the increasing trading volume which is a positive signal for the bulls. Traders might expect a re-test of the nearest resistance zone at $230 shortly. However, the long-term trend remains bearish.

Bitcoin Cash is trading at $217.05 at press time.

BSV/USD 

Bitcoin SV (BSV) is doing much better than its fork Bitcoin Cash (BCH). The price of the coin has gone up by 3.38% since yesterday.

BSV/USD chart by TradingView

According to the chart of Bitcoin SV (BSV), the coin is forming a bullish divergence on the RSI indicator. The short-term growth has not finished so far as the buying trading volume remains high. In this case, traders might expect one more growth wave to the area around $180.

Bitcoin SV is trading at $166.87 at press time.

TRX/USD 

TRON (TRX) has similar trading patterns compared to Bitcoin Cash (BCH) and Bitcoin SV (BSV). The price of the coin has risen by 1.52 percent over the previous 24 hours.

TRX/USD chart by TradingView

On the four-hour chart, TRON (TRX) is about to retest the resistance zone at $0.12. The upcoming short-term rise is accompanied by the MACD indicator, the blue line of which is crossing the orange one which supports the buyers' dominance.

Related
BCH, BSV, TRX Price Prediction - Analyzing Chances of Bounce Back

If the bulls can keep the ongoing rise, the aforementioned $0.12 level might be achieved within the next few days.

TRX is trading at $0.111 at press time.

About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

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